To what extent can technological advances in the production of capital account for the recent, worldwide decline in the … (EOS) between capital and labor tend to fall below or around one, suggesting that a decline in the price of capital should … of capital relative to output has remained roughly constant, worldwide. This poses a challenge to the view that cheaper …

The elasticity of substitution between capital and labor (σ) is usually considered a "deep parameter". This paper shows … substitution between capital and labor is below unity; that it increases along with the degree of globalization; but it decreases … enhances the substitutability between capital and labor. We also find evidence of a non-significant impact of the capital …

stock magnitudes—more specifically the monetary valuation of real capital performed at financial markets. Besides solving …

there is a shift in national income creation towards capital income, this is bound to affect personal income distribution …

capital deepening is the primary driver of these patterns. Researchers can directly use the new dataset of labor shares to …